Cost of Repairing the US's Crumbling Infrastructure? $2 Trillion
The highways, bridges, and roads across the United States are falling apart at a fairly rapid clip. In fact, it will cost some $2 trillion just to repair all the stuff that's breaking down, according to a new study from the Urban Land Institute -- without even accounting for the new stuff we'll need. In fact, as the Washington Post explains, "The report envisions a time when, like Detroit, U.S. cities may opt to abandon services in some districts and when lightly used blacktopped rural roads would be allowed to return to nature. Eventually, the report says, the federal gas tax will be increased; local governments will be allowed to toll interstate highways; water bills will rise to pay for pipe and sewer replacement; property and sales taxes will increase; and private, profit-seeking companies will play a much larger role in funding and maintaining public projects."
Hat tip: Grist